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November 15, 2014Comments Off on EU blows aviation incentives off radar

Government plans to create thousands of jobs in a potentially lucrative business at Shannon Airport hang in the balance, after the European Commission vetoed a special tax incentive scheme designed to attract major international investors. The Government has been forced to start new negotiations with EU authorities to try to come up with an amended tax break plan, which was a flagship project that was earmarked to generate thousands of jobs, by facilitating the construction of aircraft maintenance hangars and ancillary facilities in Shannon. The decision has been described as a “disappointing set-back” and a “serious blow” by Fianna Fáil Deputy Timmy Dooley, who hopes efforts will continue to ensure the revised plan will be successful. However, Fine Gael Deputy Pat Breen believes this move does not jeopardise Shannon Airport’s efforts to develop an international aviation centre and will, in fact, “probably put Shannon in a stronger position”. Deputy Dooley expressed concern the revised tax incentive package would be much …

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